Kansai Nerolac Paints Ltd. benchmarking: Perfomance to industry peers

Financial

	Kansai Nerolac Paint	Akzo Nobel India	Indigo Paints
Operational Metrics
Chemicals
Volume growth - Industrial Paints	n/a	n/a	n/a
Realization/Litre - Industrial Paints	n/a	n/a	n/a
Paints & Coatings
Capacity Utilization - Paints & Coatings	60.0 %	n/a	n/a
Volume Growth - Paints	12.0 %	n/a	13.8 %
Financials
5 yr Average ROE	14.24 %	25.79 %	15.7 %
5yr average Equity Multiplier	1.35	3.31	1.38
5yr Average Asset Turnover Ratio	1.05	0.8	1.0
5yr Avg Net Profit Margin	10.43 %	9.57 %	11.38 %
Price to Book	3.11	11.16	4.65
P/E	17.77	36.56	33.85
5yr Avg Cash Conversion Cycle	47.09 Days	-43.16 Days	-14.83 Days
Inventory Days	70.87 Days	61.22 Days	39.09 Days
Days Receivable	55.99 Days	51.76 Days	51.63 Days
Days Payable	84.12 Days	154.55 Days	151.19 Days
5yr Average Interest Coverage Ratio	34.86	38.73	63.62
5yr Avg ROCE	14.26 %	15.02 %	19.12 %
5yr Avg Operating Profit Margin	12.65 %	14.63 %	17.52 %
5 yr average Debt to Equity	0.03	0.0	0.0
5yr CAGR Net Profit	16.63 %	15.65 %	n/a
5yr Average Return on Assets	10.66 %	7.75 %	11.36 %
Shareholdings
Promoter Holding	74.98 %	69.76 %	53.88 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.01 %	-5.0 %	-0.12 %
Change in Mutual Fund Holding (3 Yrs)	-3.46 %	5.44 %	18.37 %

	Kansai Nerolac Paint	Akzo Nobel India	Indigo Paints
Product Wise Break-Up	Product Wise Break-Up Decorative segment 55.0 Industrial & Commercial 45.0 Automotive segment 0 Coatings 0 Primers, Distempers and Others 0 Enamels and Wood Coatings 0 Emulsions 0 Cement Paints and Putty 0	Product Wise Break-Up Primers, Distempers and Others 0 Cement Paints and Putty 0 Industrial & Commercial 0 Decorative segment 0 Coatings 100.0 Emulsions 0 Enamels and Wood Coatings 0 Automotive segment 0	Product Wise Break-Up Distempers 22.0 Paints & Coatings 15.0 Industrial & Commercial 0 Decorative segment 0 Coatings 0 Exterior & Interior Emulsions 45.0 Enamels 18.0 Automotive segment 0
Segment Break-Up	Segment Break-Up Paints 100.0	-	-
Location Wise Break-Up	Location Wise Break-Up India 97.13 Asia Pacific 2.87 Rest of the World 0 Domestic 0	Location Wise Break-Up India 93.86 Domestic 0 Asia Pacific 0 Rest of the World 6.14	Location Wise Break-Up India 0 Domestic 99.75 Asia Pacific 0 Rest of the World 0 Others 0.25
Raw Material Break-Up	Raw Material Break-Up Pigments, Extenders and Resins 62.71 Solvents and Fatty Acids 31.43 Organic Acids 5.85 Others 0.01	-	-